Petrol Pricing: CNPP Accuses NNPC of Economic Sabotage

By Aduragbemi Omiyale

The Conference of Nigeria Political Parties (CNPP) has again hit hard at the Nigerian National Petroleum Company (NNPC) Limited, accusing it of economic sabotage.

In a statement signed by its Deputy National Publicity Secretary, Mr James Ezema, the group claimed the state-owned oil agency has continued to hold the nation to ransom over its interference in the distribution of locally refined petroleum products.

CNPP, in the statement made available to Business Post, expressed deep concern about the lingering controversy surrounding the pricing of petrol from the Dangote Refinery and the role of the NNPC in the matter, stressing that the unresolved issue has far-reaching implications for the economy, livelihoods, and democracy in Nigeria and Africa.

The association warned that, “The failure to address this crisis may lead to catastrophic consequences for democracy in Nigeria and Africa, stating that it will continue to stand in solidarity with the Nigerian people as we demand immediate action to avert a looming danger and save our democracy.

It pointed out that the “recent revelation that NNPCL purchased fuel from Dangote Refinery at N898 per litre, contradicting earlier claims of N760 per litre, has sparked outrage. This discrepancy raises questions about transparency, accountability, and the potential for exploitation of the ordinary citizens.”

“We urge the federal government to intervene immediately and ensure that the pricing of petrol from Dangote Refinery is fair, reflective of production costs, and aligned with global standards,” the organisation stated.

The CNPP warned that the high pump price of petrol in Nigeria has a “direct impact on the cost of living, exacerbating hunger and hardship among the masses.”

“With fuel queues a common sight and prices tripling since the subsidy removal in May 2023, citizens are bearing the brunt of the inefficient energy policies of the President Bola Ahmed Tinubu administration.

“The CNPP therefore warns that if this crisis is not addressed within the next seven days, it may lead to a national outcry, threatening democracy in Nigeria and Africa,” it noted.

Speaking on the role of NNPCL and querying if it constitutes economic sabotage or protectionism, the CNPP stated that, “NNPCL’s interference in the distribution of locally refined petroleum products is nothing but national economic sabotage in an effort to conceal information and prevent Dangote Refinery from directly selling its petroleum products to marketers.

“NNPCL constituting itself as a middleman in the distribution of locally refined products undermines the oil refining companies’ potential to provide relief to Nigerians.

“We demand that the Federal Government of Nigeria, through its company, the NNPCL, ceases its meddling and allows Dangote Refinery to operate freely, ensuring competitive pricing and supply.”

Insisting the matter has impacts on democracy and accountability, the CNPP called on “the international community to hold the Federal Government and NNPCL accountable for their actions if this crisis escalates and breeds anarchy that threatens democracy in Nigeria and Africa.

“The concealment of information and lack of transparency in NNPCL’s operations are unacceptable.

For instance, NNPCL is said to be using crude oil for debt repayments either on its behalf or on behalf of the Nigerian federal government.

“But this has remained a secret or a mere speculation. If it is true, did the National Assembly approve such extra-budgetary expenditures? What are the processes and procedures adopted by the NNPCL leading to any agreement on loan repayment with our crude oil? Does the NNPCL under the Petroleum Industry Act own Nigeria’s crude oil to decide to do with it as it wishes? The CNPP strongly demands that the Federal Government categorically answer these questions as Nigerians deserve to know.

“The CNPP equally demands that President Tinubu officially directs that Dangote Refinery and other local refineries, as private businesses, operate without undue interference from the NNPCL,” CNPP stated.

While calling for immediate action, the CNPP said, “We also urge the Federal Government to immediately resolve the pricing controversy surrounding Dangote Refinery, ensure transparent and competitive pricing of petrol, allow Dangote Refinery and other local refineries to sell their products directly to petroleum marketers in Nigeria, address the high cost of living and alleviate hunger and hardship among the masses, and enforce presidential directive on an adequate supply of crude oil for domestic consumptions to Dangote Refinery and other local refineries in naira.